Former President Donald Trump has announced his intention to create a government efficiency commission to perform a comprehensive audit of the entire federal government. This proposal, suggested by billionaire entrepreneur Elon Musk, marks the latest collaboration between the two influential figures.

During a speech at the Economic Club of New York, Trump emphasized the need for drastic reforms to address fraud and improper payments, estimating that taxpayers lose hundreds of billions of dollars each year. The commission would be tasked with developing a plan to eliminate such issues within six months, potentially resulting in trillions of dollars in savings.

Trump expressed his determination to tackle the current state of government regulations, promising to cut ten regulations for every new one implemented if he is elected. The former president also outlined his commitment to boosting energy production, reducing taxes for companies producing in the United States, and embracing cryptocurrencies.

Musk, who leads renowned companies such as Tesla and SpaceX, has recently shown support for Trump's reentry into the White House. In a conversation streamed on his social media platform, X, Musk expressed his willingness to serve America without the need for pay, title, or recognition.

The unlikely alliance between these two influential figures has drawn attention, considering they were previously regarded as bitter rivals. Musk, initially a self-described moderate Democrat, had suggested in 2022 that Trump was too old to run for president again. However, he formally endorsed Trump shortly after an assassination attempt last month.

Government reform efforts have been made throughout history, with notable initiatives like the National Partnership for Reinventing Government during Bill Clinton's presidency. Trump's proposed government efficiency commission seeks to streamline operations, cut costs, and make government agencies more responsive to the public.

Both Trump and Musk, recognized as powerful individuals globally, have undergone a significant shift in their relationship during the course of this election season. As plans for the government efficiency commission take shape, their collaboration aims to reshape the future of the federal government and its operations.